Galery

1

"Over the next two years, the Greeks will blindly sell family jewels collected in the last 40 years," said for GRReporter the head of the Hellenic Center of Gold Silversmiths Trade Vassilis Likos. Economic instability and the fear that the debt crisis in some eurozone countries could lead to a new global financial catastrophe has drawn the attention of investors back to precious metals. The jump in gold prices was significant last year and the lack of available funds has increased market demand for precious metals. Everyone wants to invest in products with a secure value, because now even the safest purely financial investments are not secure and everybody knows that they are not completely risk-free.

The logic in big business is not so different from that in the small one, where the same rules apply. "We buy gold, silver and jewels" is the motive of some of the most popular commercials seen on Greek private TVs lately. Shops buying jewellery began "springing up" like mushrooms after rain on every corner in Athens. Jewellery shops have become the number one target of criminal groups, specializing in stealing. The service fighting tax crimes has found a series of illegal pawnshops trading with the jewellery of cash-strapped citizens. Their customers turn out to be ordinary citizens who have fallen into deadlock, lost their jobs; people who are trying to sell more expensive items to meet their daily needs.

"Many citizens are resorting to the sale of personal assets in Greece today due to the economic crisis. Usually, the first choice in this sale is jewellery of precious metals containing gold, silver or of other value," said the president of the Center. He states that this phenomenon is expected to increase especially during the holidays because it is already difficult for citizens to please their families with gifts, especially when they have to immediately cover a considerable part of their obligations to the state by the end of the year.

Vassilis Likos stresses that the price of gold has reached record high levels and currently, a gram of pure gold is sold for € 40. These values ​​have attracted new players in the retail trade with precious metals. "Overall, these are people who have large amounts of cash at their disposal. They come with big loud ads that they buy gold for example, but they never pay the exact amount of the gold sold to them." The police found forty-eight violations out of the sixty cases investigated.

There are several pieces of advice for citizens who are in difficulty and are willing to sell some of their jewellery to raise some money. First, they should measure the exact weight of the items and write down the content of gold in them. In original jewellery from official shops, this is stamped on the back of the ring or on the fastener of the necklace. There are usually alloys of other metals in jewellery and their content should be known. They are stated in certificates of authenticity, if any. "People should be aware of the current price of gold, so as not to be deceived," says the specialist. The Directorate General of Consumption at the Ministry of Regional Development and Competitiveness advises citizens to go only to the companies licensed for trading with precious metals.

"From 1989 onwards, the Hellenic Center of Gold Silversmiths Trade has had a fully equipped laboratory for detailed analysis of gold without destroying the object. It is unique in the country and collaborates with Piraeus Bank and the mint for specialized tests for gold bars and other precious objects." This laboratory is available to the citizens to test and establish the exact content of gold in the things they want to sell in order to prevent abuse. They should be wary of advertising campaigns and the higher prices that some retailers offer. Last but not least, it is important to know that if consumers change their minds and decide to return the money and take back the jewellery, they are legally entitled to request it within fourteen days.